SB 1735

Illinois Senate bill in Session 104.

Status: in_committee. Latest action: February 5, 2025.

ESTATE TAX-PHASE OUT.

Bill ID IL-104-SB-1735
Session 104
Status in_committee
Committee Assignments
Senate in_committee 2025-02-05
Tax / Budget / Appropriations
Summary

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that the amount of the taxes imposed under the Act shall be reduced in each year by 20%. Provides that no tax shall be imposed under the Act for persons dying on or after January 1, 2030 or for transfers occurring on or after January 1, 2030. Provides that the Act is repealed on January 1, 2031. Effective immediately.

Sponsor
Jil Tracy
Official Source Back to Bills
Actions Timeline
Date Event Detail
2025-02-05 Introduced Bill introduced
2025-02-05 Status in_committee
2025-02-05 Latest Action 2/05/2025 - Senate:
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